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Account categories

Small Business Financial Manager uses the following account categories.

Account category Debit or credit FSIC Description
1110 Cash and cash equivalents D CCE Includes all assets that can be turned to cash in the near term. This includes cash accounts, marketable securities, and so forth.
1111 Credit card receipts D CCE Where credit card receipts are posted. These are essentially the same as cash.
1121 Accounts receivable D AR Includes only trade AR accounts. Special accounts set up for employee receivables should be classified as other current assets.
1122 Allowance for bad debts D ABD Applies only to the trade AR accounts. It is a contra account where the allowance for noncollectible or doubtful AR is recorded.
1130 Inventory D INV Includes all types of inventory accounts.
1190 Other current assets D OCA Includes all current assets not specifically designated in other asset categories.
1211 Property, plant, and equipment D PPE Includes only the cost of the assets. A separate category is provided for the accumulated depreciation.
1212 Accumulated depreciation D AD Contra account used to record the accumulated depreciation for the assets (plant, property, and equipment).
1290 Other non–current assets D ONCA For all non–current assets except property, plant, and equipment.
2110 Accounts payable C AP For trade accounts payable only.
2120 Short-term debt C STD Records debt that will be fulfilled within the current year.
2130 Credit cards payable C OCL For accounts where credit card purchases are recorded.
2190 Other current liabilities C OCL Includes all other current liabilities except accounts payable and short-term debt.
2210 Long-term debt C LTD Records debt that is more than one year in duration.
2240 Other non–current liabilities C ONCL Records all non–current liabilities other than long-term debt.
3100 Equity C EQ Includes capital stock or other paid-in capital. Accumulated dividends are also included in this group.
3200 Retained earnings C RE Includes retained earnings for all prior years. If a special account is used for closing revenue and expense accounts during year-end processing, it should be either in this category or in Revenue/expense clearing.
3999 Revenue/ expense clearing C RE Reserved for the account used to close out the revenue and expenses as part of the year-end closing procedures.
4000 Net sales C NS Includes all sales accounts as well as returns and allowances.
5000 Cost of sales D COS Includes all direct costs of sales.
6100 Amortization & depreciation exp D ADE Includes the expense to record depreciation and amortization costs. This is a non-cash type expense.
6200 Bad debt expense D BDE Includes all bad debt expense. This is a non-cash expense.
6300 Officer compensation D OC Includes only accounts that are used to record expenses for compensation to officers of the company.
6400 Interest expense D INT Includes only accounts to record interest expense.
6500 Operating expense D OOE Includes all expenses that are not specifically identified elsewhere.
7100 Non–Operating income C ONOI Includes all revenue not identified as net sales.
7200 Non–Operating expense D ONOE Records any other non–operating expense.
8000 Income taxes D IT Records state and federal income taxes paid. Income tax refunds should also be recorded in this group.

Microsoft Small Business Financial Manager Copyright © 1996-1998 Microsoft Corporation

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